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The ASRS Compliance Toolkit: Practical Steps to Help Your Organization Prepare for Assurance

Watch on demand

This webinar will provide a practical overview of ASRS reporting considerations for Australian organizations preparing for upcoming sustainability disclosure requirements.

The session will cover learnings from Group 1 reporting, legal considerations, ASRS checklist requirements, the four reporting pillars and examples of best-practice ASRS reporting.

Objective

To help organizations understand key ASRS reporting requirements and identify practical steps to support assurance readiness, including insights from Group 1 reporting, legal considerations, the four reporting pillars and best-practice reporting examples.

Agenda

  • Introductions
  • Reality check: lessons learned and legal considerations
  • Getting started: three immediate steps for financial integration
  • The four-pillar ASRS compliance checklist
  • Scenario analysis: stress testing for value
  • Practical modelling example: agribusiness and food sector
  • Scope 3 considerations: data and assurance challenges
  • Greenwashing considerations: claims, labels and evolving directives
  • Educational pathways: scaling internal capability
  • Summary and toolkit takeaways

Target audience

This webinar is intended for:

  • Australian entities across all industry sectors preparing for, or impacted by, ASRS reporting requirements
  • Organizations with annual revenue of $200M+ with reporting starting in 2026
  • Organizations with annual revenue of $50M+ with reporting starting from 2027
  • Professionals involved in sustainability, compliance, ESG, quality, supply chain, finance, legal, health and safety, reporting and assurance

Watch the webinar on demand or scroll down for key takeaways and Q&A with our speakers.

Watch on demand

Key takeaways

1. Audit-Grade Climate Reporting: Treat ASRS like financial reporting with consequences (not ESG storytelling), because 97% of early reporters put climate oversight under Audit & Risk and directors can wear personal liability under the Corporations Act.

2. Dollarize Climate Impacts: Quantify climate impacts in dollars, not vibes, since 96% of early reporters described risks but only 45% quantified even one financial impact - an easy way to look unprepared.

3. Evidence First, Always: Lock boundaries and evidence from day one of the reporting period (systems, data trails, board minutes), because auditors will read your governance receipts and ASIC will cross-check for inconsistencies.

4. Asset-Level Scenario Planning: Build scenario analysis that’s asset-level and decision-useful (1.5°C transition plus ≥2.5°C physical), because generic “black box” models miss local hazards and ignore adaptations you’ve already paid for.

5. Scope Three Sprint: Start Scope 3 now even with the “extra year,” because it’s often 80–90% of the footprint and only 6% of medium companies have reasonable assurance - so map the value chain, pick material categories, document assumptions and improve data quality over time.

Q&A with the speakers 

Even if your reporting period has already started, the process remains largely the same. The first priority should be governance. Establishing the right governance structure ensures you have management buy-in, clear accountability, and a strong foundation for decision-making and integration into your business operations.

From there, focus on identifying your key climate-related risks and opportunities. Next, begin assessing your data sources. Given that your reporting period is already underway, you may need to accelerate the data collection process, but it is still important to follow a structured approach.

A great place to start is the self-assessment tool. As mentioned during the webinar, it includes a roadmap that provides a simple framework for implementation. The goal is to understand what evidence, governance structures, and risk management processes already exist within your organization. Rather than building everything from scratch, look at how climate-related considerations can be integrated into your existing governance and risk management frameworks. This is generally the most effective approach.

Yes, absolutely. We can make those resources available. If you let us know which sector you're interested in, we can provide the relevant guidance and modeling resources specific to that industry. We would also be happy to arrange a meeting to walk you through the guidance and discuss any specific questions you may have.

This is a common question. When developing this webinar, we debated whether to include Scope 3 emissions because the topic can be complex. The key message is that perfection is not expected, especially in the early stages of reporting.

For organizations subject to limited assurance, materiality is a key consideration. A materiality threshold of approximately 10% means that smaller emission categories that represent only a minor portion of your overall emissions profile are likely to receive less scrutiny than the most significant categories.

Auditors and assurance providers will generally focus their efforts on the categories that are both material and most likely to result in a material misstatement. That is where the greatest level of testing and verification will occur.

It is entirely acceptable to begin with reasonable assumptions and spend-based methodologies, provided you are transparent about the approach and methodologies used. Over time, organizations are expected to follow a continuous improvement journey by obtaining more supplier-specific and activity-based data, improving both the quality and accuracy of their Scope 3 emissions reporting from year to year.

About SGS

SGS is the world’s leading Testing, Inspection and Certification company. We operate a network of over 2,500 laboratories and business facilities across 115 countries, supported by a team of over 100,000 dedicated professionals. With more than 145 years of service excellence, we combine the precision and accuracy that define Swiss companies to help organizations achieve the highest standards of quality, compliance and sustainability.

Our brand promise – when you need to be sure – underscores our commitment to trust, integrity and reliability, enabling businesses to thrive with confidence. We proudly deliver our expert services through the SGS name and a portfolio of trusted specialized brands, including Applied Technical Services, Brightsight, Bluesign and Nutrasource.

SGS is publicly traded on the SIX Swiss Exchange under the ticker symbol SGSN (ISIN CH1256740924, Reuters SGSN.S, Bloomberg SGSN SW).

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